Banking means accepting, securing, and controlling the finances of individuals and enterprises. A bank is a financial institution that is authorized to collect deposits and offer loans. They provide various financial loans, offers, and schemes. But how much do you know about banking? This quiz has been designed to test your knowledge about the Banking Process and Functions.
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Transaction protection
Signature Card
Overdraft transaction
They leave it in boxes labeled with our names.
They invest it in order to make themselves money.
They pass it on to government offices for safekeeping.
Checks
Fiat Money
Commodity Money
They hold money instead of people keeping it stuffed under their mattresses.
They generate money by providing loans, and this causes a healthy economy.
They mint new money all the time.
The Senate
The U.S. Treasury
The Federal Reserve
When everyone wants their money back from the bank at the same time
When everyone runs to deposit their checks at the same time in the same bank
When bank shareholders converge on the bank in a fast sprint
The Federal Deposit Insurance Corporation (FDIC)
Nationwide Mutual Insurance Company
American International Group (AIG)
To solve the problems of the private banking system
To provide an alternative banking system to the earlier kind of banks
To offer banking services for businesses
Low-income workers
High-income earners
Everybody, as long as they had some form of income
They hire salaried workers and pay taxes.
They're out to make money, as businesses, only the product they "sell" is money.
They have open hours like other businesses and are closed on weekends.
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